What Is CIP
What Is CIP CIP is acronym for "Carriage and Insurance Paid to". It is not an exclusive incoterm and can be used where more than one mode of transport is involved for transportation of goods. It can be used for any transport mode. The seller under CIP have to arrange for the transportation to the place mentioned in the contract and also pay for the freight cost and insurance cost. Hence the name carriage and insurance paid to. Like CIF, the point of transfer of risk is when the goods have been loaded on the board of the means of transport. As the seller is under obligation to arrange for the insurance of the goods the level of the cover might be comm...